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Comprehensive economic evaluations of a residential building with solar photovoltaic and battery energy storage systems: an Australian case study

Akter, M.N., Mahmud, M.A. and Oo, Amanullah M.T. 2017, Comprehensive economic evaluations of a residential building with solar photovoltaic and battery energy storage systems: an Australian case study, Energy and buildings, vol. 138, pp. 332-346, doi: 10.1016/j.enbuild.2016.12.065.

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Title Comprehensive economic evaluations of a residential building with solar photovoltaic and battery energy storage systems: an Australian case study
Author(s) Akter, M.N.
Mahmud, M.A.
Oo, Amanullah M.T.
Journal name Energy and buildings
Volume number 138
Start page 332
End page 346
Total pages 15
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2017-03-01
ISSN 0378-7788
Keyword(s) cost-benefit analysis
solar PV units
energy storage systems
residential building
tariff structure
economic measures
Science & Technology
Technology
Construction & Building Technology
Energy & Fuels
Engineering, Civil
Engineering
Summary This paper presents a comprehensive framework for conducting economic analysis of a residential house along with the integration of solar photovoltaic (PV) units and battery energy storage systems (BESSs). The proposed framework is developed by considering different tariff structures of the existing energy market as well as the investment costs for the solar PV units and BESSs. In this paper, the economic evaluations are carried out based on different economic measures such as replacement cost, electricity bill, simple payback analysis, net present value, discounted payback analysis, and levelized cost of energy along with the reduction in carbon di-oxide (CO2) emissions and grid independency. The proposed framework is implemented on an Australian residential building by considering different real-time operating scenarios. The results from the analysis demonstrate the profitability of a residential building for the investment on solar PV units and BESSs.
Language eng
DOI 10.1016/j.enbuild.2016.12.065
Field of Research 090608 Renewable Power and Energy Systems Engineering (excl Solar Cells)
Socio Economic Objective 0 Not Applicable
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2016, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30093436

Document type: Journal Article
Collection: School of Engineering
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